Posted by Lesa on Sunday, June 18, 2006 at 4:55pm.
Price elasticity of demand.Tell whether is elastic,perfectly inelastic,perfectly elastic, inelastic,or unit elastic. And what would happen to total revenue if a firm raised its price in each elasticity range identified.a.Ed=2.5 b.Ed=1.0 c.Ed=~ D. Ed=0.8
Elasticity of demand is the (%change in Q)/(%change in P). Greater then 1.0 is elastic, less than 1.0 is inelastic. While elasticities of demand are often expressed as positive numbers, in fact, they all should be negative. (When price goes up, quantity demanded falls.)

Ecconomics  Anonymous, Monday, December 24, 2007 at 12:04pm
human behaviour

Ecconomics  nora, Saturday, September 25, 2010 at 11:36pm
Price elasticity of demand.Tell whether is elastic,perfectly inelastic,perfectly elastic, inelastic,or unit elastic. And what would happen to total revenue if a firm raised its price in each elasticity range identified.a.Ed=2.5 b.Ed=1.0 c.Ed=~ D. Ed=0.8
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